9 Aug

Rep Noble backs bill for better student loan reporting

first_img30Nov Rep. Noble backs bill for better student loan reporting Categories: News,Noble News State Rep. Jeff Noble voted this week to require state colleges to provide annual updates to students on their federal student loan status to better manage their debt.“Our college graduates should not have to spend the first 20 years of their careers paying for their education,” said Noble, of Plymouth. “Giving students an annual update on their loans will go a long way toward making smart financial decisions during college and success after getting their degree.”The legislation calls for students to receive:Estimates of monthly repayment amounts, based on current projections.Access to student loan counseling services available through each college.Information on employment opportunities available in a student’s chosen course of study.Estimated national student debt has reached $1.4 trillion with average loans at Michigan universities increasing by approximately $10,000 over the past 10 years.“It’s very concerning to me that 63 percent of Michigan’s college graduates have student debt,” Noble said. “Armed with the information about their debts from the colleges, students will be able to better plan for their futures.”#####last_img

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